men's wearhouse inc/the (MW) Key Developments
Men's Wearhouse Names Bruce Thorn as Executive Vice President and Chief Operating Officer
Jul 1 15
The Men's Wearhouse announced that Bruce K. Thorn, age 48, has been named executive vice president, chief operating officer, effective June 29, 2015. Prior to joining Men's Wearhouse, Thorn was employed by PetSmart, Inc. since 2007 in various positions most recently as executive vice president, store operations, services and supply chain since April 2014. Prior to joining PetSmart, Inc., he served in various leadership roles with Gap, Inc., Cintas Corporation, LESCO, Inc. and The United States Army.
The Men's Wearhouse, Inc. Provides Earnings Guidance for the Year 2015
Jun 11 15
The Men's Wearhouse, Inc. provides earnings guidance for the year 2015. For the year, the company expects annual CapEx guidance of $120 million to $130 million. The company expects EPS to be in the range of $2.70 to $2.90. While the company expects retail sales to continue to meet or exceed plans, the company now have enough visibility into full year rental business to know that it will fall short of expectations. Based on the forward reservations in system, the company now think that it will have a slight negative comp in rentals for the year. The best estimate at this time is a negative 1% to 2%. But to reiterate, the company view on EPS, retail business is showing plenty of strength to offset any shortfall in rentals, so the company remain confident in 2015 EPS guidance.
Men's Wearhouse Plan to Open 17 Macy's Stores
Jun 10 15
Men's Wearhouse announced that it will run tuxedo rental shops in 300 Macy's stores starting this fall, and will also carry a line of tailored clothing from Kenneth Cole. The company announced it will open Macy's Tuxedo Shops in 17 Macy's stores in the fall, and it expects to have all 300 locations up and running by the fall of 2016.
The Men's Wearhouse, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015
Jun 10 15
The Men's Wearhouse, Inc. announced unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company announced total net sales of $885,089,000 compared to $630,474,000 a year ago. Operating income was $55,289,000 compared to $27,281,000 a year ago. Earnings before income taxes were $16,159,000 compared to $26,207,000 a year ago. Net earnings attributable to common shareholders were $10,369,000 or $0.21 per diluted common share compared to $16,486,000 or $0.34 per diluted common share a year ago. Net cash provided by operating activities was $48,985,000 compared to $69,813,000 a year ago. Capital expenditures were $30,384,000 compared to $22,543,000 a year ago. Adjusted operating income was $67,937,000 compared to $67,344,000 a year ago. Comparable sales increased 6.8% at Men's Wearhouse, 0.8% at Moores and 7.3% at K&G and decreased 1.5% at Jos. A. Bank. Traffic increased year over year at all of U.S. brands and while Moores' traffic decreased, their average ticket increased. Adjusted net earnings attributable to common shareholders were $26.009 million, or $0.54 diluted earnings per share. In connection with the acquisition of Jos. A. Bank, debt at the end of the first quarter 2015 was approximately $1.7 billion.
The Men's Wearhouse, Inc. to Report Q1, 2016 Results on Jun 10, 2015
Jun 6 15
The Men's Wearhouse, Inc. announced that they will report Q1, 2016 results at 5:30 PM, US Eastern Standard Time on Jun 10, 2015